Bengal leads the list of suspended NBFCs
The Reserve Bank of India (RBI) has cancelled registration of 31 non-banking finance companies (NBFC) operating in a financial-strapped sector.
Registration of 17 other NBFCs were also cancelled at their request.
A majority of 27 companies, which lost their licences, are from Bengal and four are from Uttar Pradesh, said RBI in a statement on 9 Nov 2018.
The list includes Hyderabad-based Ramky Finance & Investment and city-based Propycon Trading & Investment.
More than 12,000 NBFCs operate under RBI regulation with a handful of deposit-taking ones are regulated tightly.
The NBFC sector is facility liquidity issues following non-payment of dues by the financially-troubled infra lender IL&FS since late August 2018. fiinews.com
